New types of memory have demonstrated significant potential to compete with commonly utilized forms of memory. For example, non-volatile spin-transfer torque random access memory (referred to herein as ST-RAM) has been discussed as a “universal” memory. Magnetic tunnel junction (MTJ) cells have has attracted much attention for their application in ST-RAM due to their high speed, relatively high density and low power consumption.
Most activities have been focused on MTJ cells with in-plane magnetic anisotropies. MTJ cells with out-of-plane magnetization orientations are predicted to be able to achieve lower switching currents than in-plane MTJ cells with the same magnetic anisotropy fields. Therefore, out-of-plane magnetization orientation MTJ cells and methods of utilizing them are an area of considerable interest.